Cruise Operators Reap Benefits of Their Own Private Islands

October 29, 2024

By Doyinsola Oladipo NEW YORK (Reuters) - Major cruise operators are steering their ships - and millions of dollars in investments - into their own private destinations packed with excursions, beaches, bars and restaurants. The phenomenon appears to have started with Royal Caribbean Group, which in 2019 opened "Perfect Day at CocoCay," an amusement park-like private destination in The Bahamas that has caught the eye of Wall Street. By operating their own private destinations on small Caribbean islands, Royal Caribbean and other cruise operators have managed to grow revenues faster. "By having their own port and not having to pay p...